Colombia on Thursday announced measures to slow the appreciation of the peso, including a halt on monetarizing dollars the state holds abroad and keeping $500 million in state oil company dividends in overseas accounts.
The government said it would issue $500 million in peso-denominated TES bonds in local markets to offset the dividends held overseas from state energy company Ecopetrol.
Colombia’s peso has appreciated 18.4 percent against the U.S. dollar so far this year, worrying the government and exporters in the Andean country. (Reuters)